Frank Rimerman Advisors LLC Invests $1.01 Million in Alibaba Group Holding Limited $BABA

Frank Rimerman Advisors LLC purchased a new stake in Alibaba Group Holding Limited (NYSE:BABA) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 8,860 shares of the specialty retailer’s stock, valued at approximately $1,005,000.

A number of other institutional investors have also added to or reduced their stakes in BABA. Brighton Jones LLC grew its stake in shares of Alibaba Group by 40.4% during the fourth quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer’s stock worth $289,000 after buying an additional 981 shares during the last quarter. Sigma Planning Corp acquired a new stake in shares of Alibaba Group during the 1st quarter valued at $233,000. Victory Capital Management Inc. grew its position in Alibaba Group by 25.8% during the 1st quarter. Victory Capital Management Inc. now owns 15,770 shares of the specialty retailer’s stock worth $2,085,000 after acquiring an additional 3,233 shares during the last quarter. Kestra Private Wealth Services LLC grew its position in Alibaba Group by 14.1% during the 1st quarter. Kestra Private Wealth Services LLC now owns 22,363 shares of the specialty retailer’s stock worth $2,957,000 after acquiring an additional 2,766 shares during the last quarter. Finally, IFP Advisors Inc increased its holdings in Alibaba Group by 25.3% in the 1st quarter. IFP Advisors Inc now owns 7,150 shares of the specialty retailer’s stock worth $945,000 after purchasing an additional 1,442 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Trading Up 1.5%

BABA opened at $160.05 on Wednesday. Alibaba Group Holding Limited has a twelve month low of $80.06 and a twelve month high of $192.67. The company has a fifty day moving average of $168.49 and a 200-day moving average of $137.27. The stock has a market cap of $381.89 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 2.40 and a beta of 0.19. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19.

Wall Street Analysts Forecast Growth

BABA has been the topic of several research reports. Sanford C. Bernstein boosted their price target on Alibaba Group from $167.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Nomura boosted their target price on shares of Alibaba Group from $170.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Citigroup restated a “buy” rating on shares of Alibaba Group in a research report on Wednesday, September 24th. Jefferies Financial Group lifted their price target on shares of Alibaba Group from $178.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, September 29th. Finally, Robert W. Baird increased their price objective on Alibaba Group from $153.00 to $174.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.18.

Alibaba Group Profile

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.